4 High-Yield Dividend Stocks To Boost Your Dividend Income

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While the Federal Reserve expects the increase in inflation to be transitory and is likely to continue maintaining low-interest rates, the resurgence of COVID-19 cases with the rapid spread of the Delta variant, rising geopolitical tensions related to the Afghan government’s collapse, and concerns over the global economic recovery will likely keep the stock market highly volatile in the near term. While the long-term impact of geopolitical tensions on the U.S. stock market is still uncertain, the major benchmark indexes sagged this morning.

Therefore, we think it could be wise to secure some income by betting on fundamentally sound dividend-paying stocks, particularly with Treasury Yields declining. Investors’ interest in high-dividend-yield stocks is evident in the  SPDR Portfolio S&P 500 High Dividend ETF’s (SPYD) 23.1% returns year-to-date.

Dividends paid by GlaxoSmithKline plc (GSK), Vector Group Ltd. (VGR), Star Group, L.P. (SGU), and Ennis, Inc. (EBF) translate to high yields at their current price levels. Given their impressive payout histories and fundamentals, it could be wise to bet on these stocks now.

GlaxoSmithKline plc (GSK)

Based in the U.K., GSK discovers, develops, manufactures, and markets pharmaceutical products, including vaccines, over-the-counter medicines, and health-related consumer products worldwide. The company focuses its research on treating respiratory diseases, HIV/infectious diseases, vaccines, immuno-inflammation, oncology, and rare diseases.

On August 16, 2021, GSK and biopharmaceutical company CureVac N.V. (CVAC) published preclinical data showing the immune responses and protective efficacy of CVAC’s first and second-generation vaccine candidates, CVnCoV and CV2CoV, respectively, against SARS-CoV-2 challenge in non-human primates. Better activation of innate and adaptive immune responses was achieved with CV2CoV across all selected variants, showing faster response onset, higher titers of antibodies, and stronger memory B and T cell activation than CVnCoV. These clinical results are likely to contribute significantly to the development of a vaccine for new variants.

GSK’s revenues for its fiscal second quarter, ended June 30, 2021, increased 14.7% year-over-year to £8.09 billion ($11.28 billion). The company’s adjusted gross profit came in at £5.74 billion ($7.97 billion), up 6.9% from the prior-year period. Its adjusted operating profit has been reported at £2.16 billion ($2.99 billion) for the quarter, representing a 23.4% rise from the prior-year period. GSK’s adjusted net profit increased 32.5% year-over-year to £1.41 billion ($2.25 billion). Its adjusted EPS increased 46.4% year-over-year to 28.1 pence. The company had £3.50 billion ($4.86 billion) in cash and cash equivalents as of June 30, 2021.

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